Property Insurance – Townhome vs. Condo

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The difference between a Townhome and a Condo from an insurance point of view is sometimes confusing for new buyers.  In simplest terms, a Townhome is where the owner is responsible for maintaining, repairing and thus insuring the ENTIRE structure where a Condo is where the owner is only responsible for maintaining, repairing and insuring the interior of the structure.  Unfortunately, there are many variations between these two options, so it is important to read and provide your Restrictive Covenants (CCR’s) to be sure that your policy is written correctly.

 

Source: Ben Frihauf  – Farmers Insurance in Durango, Colorado

 

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